Will bitcoin ever get regulated | Bitcointalksearch.org

darefreads

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Quote from: Mahanton on February 26, 2022, 02:59:15 PM

Quote from: TribalBob on February 26, 2022, 11:06:39 AM

I don't think it will ever be regulated for bitcoin and other coins, because as we know no one knows who owns the bitcoins themselves,
the positive value of bitcoin is that it is decentralized and censorship resistant. and keep in mind that only centralized exchanges and services will be regulated not the bitcoins

Bitcoin couldnt be regulated technically and it couldnt be possible as we do all know. Government could only take involvement via means on touching those platforms or services that do
really involves bitcoin or crypto as a whole and thats the only way that they could really give out some influence which it do somewhat affect us users who do really mind off about
decentralization but we dont really be having any choice as long it do touches up crypto to fiat transactions and these platforms are mostly regulated then we dont actually
have other choice but to deal with it.

Bitcoin will be regulated in one way or the other because there is no other way.

When governments will know that they can't ban bitcoin, they will try to find ways to regulate it.

Mahanton

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Quote from: TribalBob on February 26, 2022, 11:06:39 AM

I don't think it will ever be regulated for bitcoin and other coins, because as we know no one knows who owns the bitcoins themselves,
the positive value of bitcoin is that it is decentralized and censorship resistant. and keep in mind that only centralized exchanges and services will be regulated not the bitcoins

Bitcoin couldnt be regulated technically and it couldnt be possible as we do all know. Government could only take involvement via means on touching those platforms or services that do
really involves bitcoin or crypto as a whole and thats the only way that they could really give out some influence which it do somewhat affect us users who do really mind off about
decentralization but we dont really be having any choice as long it do touches up crypto to fiat transactions and these platforms are mostly regulated then we dont actually
have other choice but to deal with it.

TribalBob

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I don't think it will ever be regulated for bitcoin and other coins, because as we know no one knows who owns the bitcoins themselves,
the positive value of bitcoin is that it is decentralized and censorship resistant. and keep in mind that only centralized exchanges and services will be regulated not the bitcoins

Tellek Garing

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I don't think the adoption of Bitcoin by many governments and countries will make it centralized to the extent of being controlled or regulated by some bodies or organization.

Many government agencies are trying tooth and nail to see to it that Bitcoin get regulated but the edge Bitcoin has over most policies is that it's temper resistant and the highest that could be done is to regulate centralized exchanges but for Bitcoin it self it's strictly on a peer-to-peer network base and no form of regulation can alter its flow.

It doesn't make any sense trying to regulate Bitcoin as it can't be regulated as Bitcoin is a decentralized currency that is free from third-party involvement, be it as this may be Bitcoin services are the only part that can be regulated that is why we have centralized cryptocurrency exchange.

amiacaroline37

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Which government do you mean? perhaps certain state-run administrations simply need to embrace bitcoin however not really they can handle it, since it can't be an antonym for the public authority that has focused on centralization. Two distinct and problematic perspectives can't be joined, except if both are given a spot as indicated by their separate ideas, in particular, bitcoin with its decentralization and brought together government that acknowledges bitcoin's presence.

Abiky

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Quote from: TribalBob on February 10, 2022, 10:01:31 AM

it is difficult to regulate BTC because from the start BTC has been designated as a decentralized currency, and transparent in its management, but with a centralized platform owned by governments or individuals that can be regulated as said, using fiat currency as a means of illustration

Exactly. You can't regulate something that's decentralized. That's because network participants are spread across many regions around the world. If one country decides to "ban" the usage of Bitcoin, miners and/or node operators from other countries will continue to support the Blockchain. Crypto-friendly regulations will only encourage the growth of Bitcoin within a specified region. When there's a "full blanket ban", Bitcoin's growth will diminish. But that doesn't mean the cryptocurrency itself will die. People will find other ways to circumvent government restrictions in order to get access to Bitcoin.

For Bitcoin to go down, the whole Internet needs to be shut down (something which is impossible). Governments will only be able to regulate centralized exchanges since these are concentrated within a single region. But they won't be able to regulate decentralized exchanges, and even in-person trades because of the reasons mentioned before. Things will stay that way as long as Bitcoin remains decentralized and censorship-resistant. Just my thoughts Grin

blockman

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I don't think the adoption of Bitcoin by many governments and countries will make it centralized to the extent of being controlled or regulated by some bodies or organization.

It won't make it centralized, bitcoin will remain as is even if all the countries and governments adopt it. But what they can do is they can manipulate the market through their one accord plan if they do so. But the whales are already enough to manipulate the market but with them working together, they can also do what whales can. They can regulate it but it will never change the character of bitcoin. As they regulate bitcoin, it's not the actual that they regulate but it's the market of it.

MinoRaiola

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This is a question many people have and yes it is important. More countries are legalizing it because they understand that there is no other way. Now even Ukraine and Russia, they have other problems, but they are getting there. So there are more of them, and that's good. But more important, people are accepting Bitcoin. So it has to be used and used in the best possible way. Simple and cheap, then it works much better.

DoublerHunter

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Quote from: macson on February 19, 2022, 02:01:41 PM

Quote from: Tellek Garing on November 08, 2021, 02:08:11 PM

This topic have taken the center stage of my thought we have seen how countries around the world are gradually opening the economy to adopt bitcoin and as a result a lot of government policies are already underway to develop a framework that allow regulation of the bitcoin ecosystem which have made me to wonder on this topic. Can a decentralized currency like bitcoin ever get regulated?

"wind is something that cannot be touched but can be felt", as well as bitcoin, the government cannot regulate bitcoin but can only regulate things related to bitcoin such as bitcoin owners, exchanges, gambling sites or digital wallets. but if bitcoin is a centralized crypto asset then the government can regulate it.

^ In short, BTC is only on the computer's code that no one will break the code even one of us.
Even though there is a regulation of the wallets or any platform that the users use but still we can still be able to use BTC without knowing by the government, the whole thing they can able to regulate because we can use BTC without regulations. But the problem is when we buy and sell cryptocurrencies we need a centralized exchange to that faster. However, there are exchanges that we can use to trade but I am not sure how faster it is. It is a p2p exchange.

macson

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Quote from: Tellek Garing on November 08, 2021, 02:08:11 PM

This topic have taken the center stage of my thought we have seen how countries around the world are gradually opening the economy to adopt bitcoin and as a result a lot of government policies are already underway to develop a framework that allow regulation of the bitcoin ecosystem which have made me to wonder on this topic. Can a decentralized currency like bitcoin ever get regulated?

"wind is something that cannot be touched but can be felt", as well as bitcoin, the government cannot regulate bitcoin but can only regulate things related to bitcoin such as bitcoin owners, exchanges, gambling sites or digital wallets. but if bitcoin is a centralized crypto asset then the government can regulate it.

LUCKMCFLY

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France, Germany, Japan, Mexico and many of other big succesful countries have regulated Bitcoin. And many of big companies also accepted bitcoin as a payment asset and BTC will regulate in the whole world in some years then it will have bright future.

It is that these countries the BTC must enter at any rate, it is not possible that a third world country has advanced so much to Europe and North America, it does not matter that the price of BTC is low, which represents having in the economy to BTC is shielding against inflation, if we take into account that all economies are vulnerable, including the United States and the European, BTC sometimes represents being its best outlet, even above gold, gold will always represent the best support, while BTC represents to be the best investment of all.

dataispower

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Bitcoin is decentralized currency that government don't have authority or power to regulate it speculation, if bitcoin will be regulated in future it will be when fiat currency is no more and Bitcoin will take over Fiat currencies. I think it is the time Bitcoin can be regulated, the regulation of bitcoin start from the market cap, due to the demand of bitcoin and the supply of bitcoin, that is what makes Bitcoin and any cryptocurrencies different from fiat currencies.

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Quote from: TribalBob on February 10, 2022, 10:01:31 AM

it is difficult to regulate BTC because from the start BTC has been designated as a decentralized currency, and transparent in its management, but with a centralized platform owned by governments or individuals that can be regulated as said, using fiat currency as a means of illustration

which can be well regulated by the government as the exchange platform in the country. I think the government can tie taxes on the platform. while asset ownership will be very difficult to regulate by the government.
so the ownership tax by each person will be charged when there is a withdrawal from the exchange platform. I don't think crypto-assets can be regulated and set as income tax.

TribalBob

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it is difficult to regulate BTC because from the start BTC has been designated as a decentralized currency, and transparent in its management, but with a centralized platform owned by governments or individuals that can be regulated as said, using fiat currency as a means of illustration

Abiky

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Quote from: boyptc on February 06, 2022, 03:12:00 PM

The government can regulate all of those businesses that are related to cryptocurrencies.

The need to have a license as a business for their operation is already enough to be said that they're regulated and controlled by the government. What you said about bitcoin and the others, they can't really be regulated at all.

That's why exchanges are asking for KYC.

That's part of the regulation so if you enter their platforms, you're using a regulated platform but outside of it, they have no control over us.

Exactly. At its core, it would be impossible to regulate Bitcoin because of its decentralized and censorship-resistant nature. What governments can only do is regulate businesses and exchange operators dealing with cryptocurrency. Centralized exchanges are required by law to comply with KYC/AML regulations in order to prevent money laundering and terrorist financing. If they don't do that, governments will close up their business. It's the way it works.

For Bitcoin to achieve its true potential, it needs to be traded on decentralized exchanges. Fortunately, there are some DEXs and even atomic swaps which allow people to gain access to the world of crypto without limitations. These alternatives cannot be regulated because of their decentralized nature just like Bitcoin. Depending on how crypto develops over time, governments can either decide to ban Bitcoin completely or continue to regulate the industry. Either way, Bitcoin will survive as it's too big to fail. Who knows how our future will look like with Bitcoin as the epicenter of our mainstream economy? Just my thoughts Grin

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Quote from: tippytoes on February 06, 2022, 07:53:19 AM

One good example also are local crypto-exchanges. Because they are under the jurisdiction of their Central Bank. So in a way, they are abiding the laws and regulations of their Central Bank when it comes to crypto business. But bitcoin itself, won't be regulated because of its decentralized nature. Only the businesses employing bitcoin or other crypto services. If the government can get taxes out of these businesses, why not? Rather than treating them as illegal market because they won't get anything, only their underground market will benefit from it.

The government can regulate all of those businesses that are related to cryptocurrencies.

The need to have a license as a business for their operation is already enough to be said that they're regulated and controlled by the government. What you said about bitcoin and the others, they can't really be regulated at all.

That's why exchanges are asking for KYC.

That's part of the regulation so if you enter their platforms, you're using a regulated platform but outside of it, they have no control over us.

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Quote from: Mamun74 on February 01, 2022, 02:40:44 AM

I think yes,Bitcoin already some countries legal. Bitcoin ever get regulated i think It’s possible. Many companies and many countries they are interested in cryptocurrency in bitcoin. Many investor comes in last 2-3 year in crypto World. I think It's Very tough to government regulation in bitcoin but i hope one day It's possible to happen.

I'm not sure if you understand more about Bitcoin...

Bitcoin is not fiat that can be regulated by the government, Bitcoin is a decentralized cryptocurrency that is difficult to get regulated. but things related to Bitcoin such as wallets, gambling sites or exchanges can get regulation from the government at any time because they can control it.

thecryptoconsultant

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I kind of agree

panukurap

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In my opinion, BItcoin cannot be regulated at any time by arbitrary people. Maybe Bitcoin can only be regulated by the creator himself who has the code. If Bitcoin can be regulated arbitrarily, I am not sure the value of Bitcoin will be as high as it is now, in fact its value will decrease. This can happen. The thing behind Bitcoin still a mystery or a secret it seems, we only know what lies ahead now. Compete in the race to have Bitcoin from mining, trading and so on. In fact, many people commit fraud, theft or other crimes to get BItcoin more easily without mining or buying it.

Viscore

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I think it would be hard for the government to regulate bitcoin because it is decentralized digital currency,which means there is no physical entity like central banks.It is also highly volatile.Maybe if the regulation work out, it will really affect the future of crypto.The whole purpose of bitcoin will be vanished.The value of bitcoin will become stable like any fiat currencies.

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